Louisiana State Employees Retirement System Has $3.38 Million Holdings in ITT Inc. (NYSE:ITT)

Louisiana State Employees Retirement System cut its position in ITT Inc. (NYSE:ITT) by 3.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 22,600 shares of the conglomerate’s stock after selling 700 shares during the quarter. Louisiana State Employees Retirement System’s holdings in ITT were worth $3,379,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of ITT. Mawer Investment Management Ltd. bought a new stake in shares of ITT during the second quarter valued at approximately $49,043,000. Select Equity Group L.P. increased its position in ITT by 11.7% in the second quarter. Select Equity Group L.P. now owns 3,340,392 shares of the conglomerate’s stock worth $431,512,000 after purchasing an additional 351,206 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in ITT by 73.4% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 681,839 shares of the conglomerate’s stock worth $92,751,000 after purchasing an additional 288,671 shares during the last quarter. Millennium Management LLC lifted its position in ITT by 200.4% during the 2nd quarter. Millennium Management LLC now owns 393,429 shares of the conglomerate’s stock valued at $50,823,000 after purchasing an additional 262,470 shares during the period. Finally, AQR Capital Management LLC boosted its stake in shares of ITT by 115.6% in the 2nd quarter. AQR Capital Management LLC now owns 245,676 shares of the conglomerate’s stock valued at $31,717,000 after purchasing an additional 131,708 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors.

ITT Price Performance

Shares of ITT opened at $143.78 on Monday. The stock has a 50 day simple moving average of $142.17 and a 200 day simple moving average of $135.81. ITT Inc. has a 52-week low of $91.94 and a 52-week high of $153.99. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.10 and a current ratio of 1.55. The firm has a market capitalization of $11.75 billion, a PE ratio of 27.44, a P/E/G ratio of 1.92 and a beta of 1.40.

ITT (NYSE:ITT) last released its quarterly earnings results on Thursday, August 1st. The conglomerate reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.03. ITT had a net margin of 12.47% and a return on equity of 18.30%. The company had revenue of $905.90 million during the quarter, compared to analysts’ expectations of $916.38 million. During the same quarter in the prior year, the company earned $1.33 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. Sell-side analysts predict that ITT Inc. will post 5.84 EPS for the current fiscal year.

ITT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were paid a $0.319 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend was Tuesday, September 3rd. ITT’s dividend payout ratio is 24.43%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group boosted their price target on shares of ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Stifel Nicolaus raised their price target on ITT from $157.00 to $167.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. TD Cowen lifted their price objective on ITT from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Finally, KeyCorp increased their target price on ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $155.25.

ITT Profile

ITT Inc, together with its subsidiaries, manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets in the United States and internationally. The Motion Technologies segment manufactures brake pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, trucks, light- and heavy-duty commercial and military vehicles, buses, and trains.